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News For NOSYMBOL From The Last 14 Days
Check below for free stories on NOSYMBOL the last two weeks.
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September 26, 2014
09:40 EDTTreasury Option Action: demand for volatility
Treasury Option Action: demand for volatility has been cited with good buying on 2.5k December 138 bond straddles, rumored to be a West Coast fund in the midst of a management reshuffle. Dec bonds are 7-ticks lower now near 137-19.
09:30 EDTPIMCO's Gross: decided to join Janus Capital Group
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09:25 EDTFX Action: USD-CAD made new trend highs
FX Action: USD-CAD made new trend highs of 1.1137, after finding support just under 1.11 into the North America open. Fresh bidding interest is now reported coming in at 1.1100, with intra day stops noted at 1.1090. To the upside, the March 26 high of 1.1170 should provide good interim resistance.
09:22 EDTSPDR Lehman High Yield Bond volatility low as yield trends higher
SPDR Lehman High Yield Bond overall option implied volatility of 7 is below its 26-week average of 8 according to Track Data, suggesting decreasing price movement.
09:15 EDTU.S. equities shed gains
U.S. equities shed gains even after European bourses turned the corner slightly on yesterday's steep losses even as Asia caught up on the downside overnight. Q2 GDP was revised up to 4.6% as expected, though the markets are still focused on downside risks as the Fed seeks a graceful exit from QE. News of Bill Gross's departure from PIMCO for Janus appeared to attract more interest, however, as parent Allianz sinks 3% and Janus surges 20%. There was also a WSJ report that BlueCrest sacked equity fund managers yesterday and some of its stock portfolio, contributing to the sell-off then. In Asia, Japan's N-225 sank 0.88%, while the Japan Topix of financial shares tumbled 1.08% and the Shanghai Comp rose 0.11%. Europe's Euro Stoxx 50 is up 0.4%, while the German DAX is in shallow negative territory. The Dow is 2-points lower, S&P sank 5-points and NASDAQ is off 2-points ahead of the opening bell, below earlier highs. In corporate action, NIKE surged over 7% in pre-market action after a solid earnings report, as did Micron Technology which rallied over 6%. U.S. shares of Canada's Blackberry also rallied 4% after cutting its losses. Final U. Michigan sentiment is due next.
09:00 EDTBlueCrest Capital Management LLP was cited by the WSJ
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09:00 EDTThe Q2 GDP growth boost to 4.6%
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08:55 EDTFX Action: The dollar edged up
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08:45 EDTU.S. GDP grew at a 4.6% rate in Q2
U.S. GDP grew at a 4.6% rate in Q2, revised up from 4.2% previously and 4.0% in the Advance report. Personal consumption expenditure growth held at 2.5%, where it's been since the first report. Fixed investment came in at a 9.5% rate, boosted from 8.1% in the second report (and from 5.9% originally), with nonresidential spending revised up to 9.7% versus the prior 8.4%, and residential spending up 8.8% compared to 7.2%. Inventories added $49.6 B compared to $48.7 B previously. Net imports subtracted $13.2 B after adding $6.8 B previously. Government spending climbed 1.7% in the final Q2 reading versus 1.4% previously. The GDP price chain price index was steady at a 2.1% pace, with the core rate holding at 2.0% compared to the prior report, and versus respective rates of 2.0% and 1.5% in the Advance report.
08:45 EDTTreasury Action: yields remained subdued
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08:39 EDTFutures still pointing to higher open after Q2 GDP growth revised higher
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08:15 EDTU.S. Q2 GDP preview:
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08:10 EDTOil Action: NYMEX crude is up 54 cents
Oil Action: NYMEX crude is up 54 cents at $93.07 into the open, with prices up on profit taking into the end of week/month/quarter. The contract found solid support on the $90 handle early in the week, and has been building a base since Monday, print higher daily lows since then. The ample supply/weak demand picture remains in place however, so the current rally is not likely to last too long. For the most part, a $90-95 trading range may be in place for the foreseeable future.
07:46 EDTFDA to hold a public meeting
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07:45 EDTTreasury Market Outlook: Treasuries have shed earlier gains
Treasury Market Outlook: Treasuries have shed earlier gains as the 10-year yield edges up to 2.50% after testing 2.48% in Asian trading. European and Asian sovereigns remain higher with the German Bund yield at 0.95% while the 10-year JGB sits at 0.51%. Sources report real money accounts were noted sellers of Treasuries to purchase other sovereigns. Stocks in Asia ended in the red following Wall Street's plunge Thursday, as U.S. equity futures and European bourses rebound. The dollar is firmer. Weaker than expected German confidence data helped propel bonds higher, while German import prices decelerated further to a -1.9% y/y rate, while Japanese CPI came in below expectations. Supply is out of the way in the U.S. the time being, and that could give some support to Treasuries headed into month- and quarter-end. Data today includes the third revision to Q2 GDP, with growth expected to be boosted to 4.4% from 4.2% previously. The final reading on consumer sentiment for September is also due and is expected to edge up to 85.0 from the preliminary 84.6.
07:35 EDTN.Y. FX Outlook
N.Y. FX Outlook: FX trade was relatively quiet overnight, with major dollar pairings plying familiar ranges for the most part. Notable exceptions were the CAD and AUD, which both printed trend lows. EUR-USD short covering seen on Thursday appears to have run its course, and dollar friendly U.S./German yield differentials, and a dovish ECB should keep the pressure on the euro for the time being. USD-JPY is back on the 109 handle, with the yen weighed down some by cooler Japan inflations data. The U.S. calendar reveals the third Q2 GDP report at 8:30 EDT, followed by the final September U. of Michigan sentiment survey at 9:55 EDT.
07:00 EDTFX Update: The dollar majors have been comparatively steady
FX Update: The dollar majors have been comparatively steady in pre-U.S. open trade Friday. USD-JPY lifted from the mid-108s back above 109.00 on slightly tamer than expected CPI data out of Japan. EUR-USD consolidated the gains seen in the wake of yesterday's somber set of data out of the U.S., remaining in a narrow range in the mid-127s and leaving the 22-month low at 1.2697 untroubled. The dollar bloc currencies fell to fresh lows as Asian equity markets posted another negative session, before managing a rebound during the European AM as asset markets steadied. AUD-USD saw a seven-month low of 0.8751, NZD-USD a one-year low at 0.7886 and USD-CAD a seven-month high at 1.1132.
06:04 EDTOn The Fly: Morning Wrap-Up for September 26
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06:00 EDTOctober front month equity options last day to trade is October 17, 2014
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04:15 EDTFX Action: USD-JPY has been oscillating around 109.00
FX Action: USD-JPY has been oscillating around 109.00 after lifting from the mid-108s during the Tokyo session following a slightly weaker than expected core CPI figure out of Japan, of 3.1%, and just 1.1% y/y in the ex-sales tax effect outcome. Resistance is marked by yesterday's high at 109.37 peak and last week's six-year high at 109.46. Reportedly major option barrier levels lie at 109.50 and 110.00. Japanese PM Abe this week expressed concern about the pace of recent yen weakness, a view that BoJ policymakers are in accordance with, although a weaker yen remains part of their strategy to achieve the 2.0% CPI target. Analysts expect to see the dollar trade above 110.00 before long.
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